On November 1-2, 2022, Deribit's BTC, ETH, and USDC hot wallets were compromised, draining ~$28M in crypto assets. Client assets in cold storage and Fireblocks vaults were unaffected. Deribit covered the loss with company reserves; the specific compromise method remains undisclosed.

Crypto derivatives exchange Deribit tweeted that $28 million in losses from Deribit’s hot wallet was stolen, but customer funds were safe and the losses were covered by company reserves. According to the analysis of SlowMist MistTrack, the loss included 6967.65 ETH, 691 BTC and about 3.41 million USDC, and then the attacker exchanged USDC for 2143.95 ETH.